According to ATTOM Data Solutions’ newly released Q3 2020 Opportunity Zones Report, median home prices increased from Q3 2019 to Q3 2020 in 74 percent of qualified opportunity zones established by Congress in the Tax Cuts and Jobs act of 2017. For this report, ATTOM identified 1,737 zones with sufficient sales data to analyze, meaning those zones with at least five home sales in Q3 2020.

ATTOM’s most recent opportunity zones analysis also noted that median home prices rose by more than 10 percent in slightly more than half the designated zones. The report stated those gains revealed that housing markets in opportunity zones continued improving in Q3 2020, even as the Coronavirus pandemic further spread across the nation, impacting the U.S. economy and generally hitting hardest in lower-income communities where most of the zones targeted for tax breaks are located.

The Q3 2020 report also stated that those opportunity zone price gains fell below the pace of improvements in the broader metro areas throughout the country, while every metro with enough data to analyze in Q3 2020 showed year-over-year median price increases and three quarters of those areas saw prices jump more than 10 percent.